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FAQs

Get answers to your most common questions below.

This is a difficult question to answer because it’s highly dependant on your personal situation and preferences. If you’d like to access tax-free cash to help fund a once in a lifetime holiday, home improvements, a better retirement or help your kids with tax advantageous inheritance money, it could be a great option for you. 

If you’re over 55 years old and you own a home that has a value of at least £70,000 without a large outstanding mortgage, chances are you can take advantage of equity release :-).  

Interest rates for equity release vary between 2.96% and 6%. The current average is 4.92%, to get an estimate on how much you could release and the rates involved you can click this link. 

Depending on your circumstances, you could either choose to not repay anything and let the interest come out of your home’s value. OR, you could pay that amount off each month/year to retain the property’s equity. 

No credit checks are conducted at the initial enquiry and will only be done when your mortgage broker has your permission to do so.

Depending on your circumstances, anywhere between 20% to 50% of the value of equity in your home. 

Definitely not. This is a common misjudgement based on unregulated plans from over 20 years ago. 

The equity release market is now regulated and monitored by the Financial Conduct Authority. You can never lose your home and will have permanent tenure until you pass or enter long term care.

By choosing equity release you are going to reduce the amount loved ones will inherit. However, that can be offset by taking advantage of the tax free cash you get from equity release and gifting it to them. 

It’s also possible to put aside a fixed amount of your property’s value to guarantee an inheritance to a loved one.

Obviously, this argument is irrelevant to those not concerned with passing on inheritance or those with no beneficiaries to pass on the estate too.

If you need access to liquid funds, an alternative is to downsize your home. Selling your home, finding a new one and moving can a stressful process but it’s definitely a legitimate option and often better for your overall financial wellbeing. 

Disclaimers:

*Rates taken from https://www.equityreleasesupermarket.com/compare-deals.
** Gov rent a room scheme: https://www.gov.uk/rent-room-in-your-home/the-rent-a-room-scheme.

Equity Release Expert is a trading name of Digital Roo Ltd. https://www.equity-release-expert.co.uk is a website solely used for marketing and no advice is provided directly from this site. Equity Release Expert introduces you to a suitable Partner that can help give you individual advice and match you to the right solution for your personal circumstances, we are paid a fee for the introduction.

There may be a fee for mortgage advice only if you decide to proceed. If you are thinking of consolidating existing borrowing you should be aware that you may be extending the terms of the debt and increasing the total amount you repay. The exact savings you could make from remortgaging & equity release will vary depending on your circumstances.

Calls may be recorded for training purposes. The lender and or broker may charge a fee of 0% up to 7% on your loan.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT. IF YOU ARE THINKING OF CONSOLIDATING EXISTING BORROWING YOU SHOULD BE AWARE THAT YOU MAY BE EXTENDING THE TERMS OF THE DEBT AND INCREASING THE TOTAL AMOUNT YOU REPAY.

Nothing on this website constitutes financial advice. However, we do look to match you with the right financial advice so you can speak to a qualified financial advisor. This website provides information only, and the choice of product is for you alone to choose. As an introducer we process the information you provide us and we may pass this onto our trusted third party lenders and brokers. All credit is subject to you being a UK resident, aged 18 or over and subject to your personal circumstances. All lenders operate responsible lending policies and as such credit is subject to status and affordability.

We will sometimes use testimonials or case studies from our clients or partners and publish these online, including on social media. When we do this, we often use actors to present the content that we have received from real clients or partners.

This site is not affiliated with or endorsed by Facebook™ in any way. Facebook™ is a trademark of Facebook Inc.

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